A lock assembly (20) including a lock bolt (28), a first hub (36), a first electrically powered hub locker assembly (64 to 72) and a first remotely controllable, electrically powered setting mechanism (86 to 112). The lock bolt (28) is movable between a latching position and an unlatching position. The first hub (36) is adapted to move the lock bolt (28) in response to torque being applied to, or movement of, a first handle. The first electrically powered hub locker assembly (64, 66, 68) is settable to operate as fail safe or fail secure. The first remotely controllable, electrically powered setting mechanism (86 to 112) is adapted to set the first electrically powered hub locker assembly (64 to 72) to operate as fail safe in response to a remotely supplied fail safe signal or to operate as fail secure in response to a remotely supplied fail secure signal.